Comments on: Matt Simmons and Peak Oil

By: Marcin Gerwin

Marcin Gerwin — Mon, 06 Apr 2009 20:36:24 +0000

Kjell, I watched the interview with Matt today. I agree that the supply and demand logic suggests that the price of crude oil will go up as soon as the demand outstrips the supply. But I think the situation will unfold differently. There’s one more thing to it – politics. If politicians wish to restore growth, they cannot allow the price of oil to rise. It seems to me that they will do whatever they can to tackle speculation and perhaps even set the regulated price. It means that they will try to keep the price of crude oil below 147 USD which was too much for many economies. What do you think?

By: Ed Pell

Ed Pell — Sun, 29 Mar 2009 18:16:29 +0000

I do like Google translation it does a fairly good job of Swedish to English. Jag gillar Google översättning den gör ett ganska bra svenska till engelska.

By: Ed Pell

Ed Pell — Sun, 29 Mar 2009 18:13:13 +0000

Lotus Jansson writes “The Ed Pell writes come from a person without roots in reality. The amount he calculates is huge amount. Is about more than state the U.S. GDP.

We can not calculate such a thing without having to suffer from hubris.”

What price do you think is correct for a new energy system? If we use a five year base that would be 23% of the US GDP for five years. What % of GDP would you think worth spending to have energy self sufficiency? It is not hubris it is rational planning.

By: Svenne

Svenne — Sat, 28 Mar 2009 23:02:39 +0000

Björn Forsberg som är forkare i miljö och tillväxtfrågor vid Umeå universitet, har skrivit en bok som heter “Tillväxtens sista dagar” den beskriver det totalt orimliga med dagens samhälle, med eller utan olja. Jag kan varmt rekommendera den.

By: Lotus Jansson

Lotus Jansson — Sat, 28 Mar 2009 15:40:24 +0000

Matt Simmons, founder of Houston-based investment bank Simmons & Co, argues the underlying rate of decline of the world’s aging oilfields is as much as 20 percent a year and only high levels of investment can reduce that to single digits.

With credit tight and oil prices almost $100 a barrel below their highs last year, oil companies are unable to sustain previous levels of spending and the result is falling production, he said in an interview on Thursday.

“We are three, six, maybe nine months away from a price shock. We are not talking about three to five years away — it will be much sooner,” Simmons told Reuters in London.

Det Ed Pell skriver kommer ju från en person utan förankring i verkligheten. De summor han beräknar är ju enorma belopp. Handlar om mer än staten USA BNP.

Man kan inte enkelt beräkna något sådant utan att lida av hybris.

By: Ed Pell

Ed Pell — Fri, 27 Mar 2009 16:50:51 +0000

Rather than give up travel as Matt suggest I prefer the US build a photovoltaic generation and hydrogen storage facility in the US Southwest large enough to supply 100% of all US energy needs. This will also require a national distribution system for electric and hydrogen. I estimate the two projects will cost 8 trillion dollars each for a total of 16 trillion dollars. The time scale I would prefer is 3-6 years. This ought to be a big enough stimulus for the world economy. The US will then have technology to export to the whole world.